SK Innovation will integrate its corporate governance in the United States.
According to the electronic disclosure system on the 25th, SK Innovation's board of directors decided to dispose of its equity in PRISM Energy International Americas, the holding company for its U.S. operations.
Additionally, SK Innovation will contribute 100% of its equity in PRISM Americas as a capital contribution to SK Innovation Americas and will receive newly issued shares from SK Innovation Americas. The scale of the capital contribution is 3.666 trillion won.
PRISM Americas was formerly a subsidiary of SK E&S. This completes the establishment of a consolidated entity in the United States following the merger of SK Innovation and SK E&S last year.
The company noted, "This is a process to integrate the U.S. entities that had been operating separately after the merger, as part of the follow-up steps of the merger."